House for sale in Hilden, Germany

Property Description A three-story residential building with 9 units, a basement, and an attic. The total living area is 593 square meters and it features balconies, roof terraces, and garden terraces. The building was fictitiously constructed in 1973. Heating is provided by gas heaters, while hot water is supplied by electric tankless water heaters. The property has various structural defects and building damages, including cracks in the facade, peeling paint, dirt on the facade, damaged old clay roof tiles, dirt and paint needed on the underside of the roof overhang, outdated wood and plastic windows with partially single-glazed design, missing seals, cracks in the windows, mold formation in various places, moisture in the chimney, cracks in the terrace tiles, and outdated bathrooms. Estimated maintenance reserves amount to €60,000, taking into account depreciation and overall condition. Thoughts on Price: Given the state of the property and the necessary repairs, the asking price of €940,000 may seem high. However, with potential discounts of up to 30% off the market value, the property could be acquired for a more reasonable price of €658,000. It is important for buyers to factor in the cost of repairs and renovations when considering the overall value of the property.